MKT 500 Strayer University Sorez Co Marketing Management Presentation Create a PowerPoint presentation in which you present your full marketing plan from A

MKT 500 Strayer University Sorez Co Marketing Management Presentation Create a PowerPoint presentation in which you present your full marketing plan from Assignments 1, 2, and 3. References are required. This presentation does not require any video or audio narration.

Instructions

Create a PowerPoint presentation in which you:

Present the major points of your marketing plan.
Clearly convey your ideas.
Create a professional presentation.
Use technology (title slide naming conventions) to convey ideas.
Use proper grammar.

The specific course learning outcomes associated with this assignment are:

3. Create an effective marketing plan.

a. Develop recommendations based on market analysis and strategy.

b. Develop strategies to assess performance and achieve marketing goals.

c. Develop dynamic strategies for competing.

d. Develop branding strategies for new products or services.

e. Develop pricing strategies and distribution channels for products or services.

f. Develop a fully integrated marketing communications plan for products or services.

Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric found here.

This is the information to include on your PowerPoint title slide:

Your First Name, Your Last Name – Shark Tank Investment Pitch

MKT500 Marketing Management

Strayer University

Instructor’s Name Goes Here

Date Submitted Running head: MARKETING PLAN
A Marketing Plan
Stephanie Cooper
April 24, 2020
MKT500
MARKETING PLAN
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Introduction
Success is one of the many things that sums up the mere importance of the genesis of
every project. A successful project pays out to the people behind it through accomplishment of
its main goals and one of which is growth and development. For this reason, firms too will
always eye for success in every situation. To succeed, it is important to come up with goals and
objectives before igniting a business organization. This generally calls for any business to come
up with a marketing plan. Research has shown that every systematic goal need proper plans
towards its achievement. In relation to that, ninety-five percent of firms that appreciate and
enhances the use of a market plan always succeed and strongly thrive in the economy with ever
existing competition and other business destructors.
A marketing plan aids a firm in planning for future activities, future business inhibitors,
setting the business goals and how to achieve them. Without it, it is not easy to determine the
strengths of the firm which should be encouraged, weaknesses of the same firm which ought to
be worked on to strengthen its foundation (Wood & Jobber, 2016). It is a marketing plan that
ensures that customers are well served and satisfied, this ought to be one of objectives of every
firm in the world.
Sorez Company
In this paper, we will look at a hypothetical firm located in California, United States of
American. The business name is Sorez Company, it focuses on distributing electronic devices
throughout the United States and also extends their market to the international level. Despite of
the existing thousands and thousands of types of electronic gadgets, the company is set to
produce and distribute them globally. This explains how big the Sorez company is and how
MARKETING PLAN
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much it requires a marketing plan, research have proved that the larger the firm, the more it
needs a marketing plan.
Over the last few years, there has been claims that there is continuous production of fake
electronic gadgets in United States, the report also stated that few of the firms producing quality
devices supplied them at very high prices. This is one of the main reasons for the existence of
Sorez Company, to produce quality products and supply to the market at a relatively low price.
Sorez Company’s Statements
Every firm must have a vision and also a mission that mostly acts as the engine to its
growth and development. Sorez mission is to provide good and quality products to Americans
and people all over the world at very affordable prices. This statement will see to it that the firm
has always produced the best quality product which will in return earn customers’ royalty, hence
increasing the market base.
Sorez Company also has got a vision statement that also has a point in shaping its future.
The statement have it that Sorez Company would like to be the leading producer of electronic
devices across the globe and be regarded by a great multitude of customers. The vision also
extends to seeing the electronic production evolve gradually through innovations and inventions
at the company. This will see to it new products in the market. Definitely, this would act as a
very big plus on the company’s market and fame.
Both the mission and the vision statement ought to be well monitored to ensure they are
achieved. According to Fursov (2017), Failure to reach to these statement simply shows how a
firm is not focused hence putting the future of the firm in doubt. Due to this reason, several
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planned directions has been given out by the Sorez Company’s leadership to ensure the
achievement of these two statements.
Goals of Sorez Company
A saying goes, that failing to plan is planning to fail, due to this fact, every firm ought to
set up standard goals to enable development. Sorez Company is not an exemption in this, the
company has established both long-term and short-term goals. Eccles & Krzus (2010) feels that
establishing goals, both short-term and long-term, is the best option a firm can take for
successful growth and development. Short-term goals are meant to be achieved in not more than
a year while long-term goals are meant to be achieved in a period about one year.
Short-term Goals
Sorez Company has put in place the following goals to be achieved in the first year of
production
1. To ensure increase the in number of customers to three times the current number.
Customers are very vital in any business and that’s why Sorez Company will put in place
more and more marketing tools such as advertisement to in an effort to attain more
customers.
2. The company expects to attain funds that will employ over five hundred workers before
the year ends.
3. Another goal that ought to be attained in the first year of production is hiring of market
researchers to study the electronic devices market and get to know of the taste and
preferences of consumers. This will be of great aid because the company will major its
production in the customer’s desire.
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4. The company plans on giving back to the community programs through helping the aged
and needy in the many societies across the globe. In the first year of production, the
company focusses of helping over ten thousand needy families in the world starting with
the United States.
Long-term Goals
From the proposed short-term goals, the company wishes to base the foundation of long-term
goals on them. These long-term goals may take time but they are of great aid towards the
achievement of the company’s vision and mission. They include the following
1. To be the leading company in the production of electronics devices. Through establishing
of good producer and consumer relationship and production of quality devices, the
company aims to be the most regarded electronic company in the world some years after
its start.
2. Sorez Company aims at obtaining not less than ninety-five percent positive feedback
from their customers, concerning their products.
3. On the revenue making part of the company, it aims at doubling the total revenue gained
on the first year in a period of five years and keep it increasing in the years to follow.
This will ensure that the financial position of the firm is secure.
4. The company also aims at extending their boundaries to at least ten countries in a period
of five years. The extension gives the company an opportunity to increase the rate of
capital formation through increased customer base.
Goals Measurements
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After setting up goals, whether long-term or short-term, it is important to find ways
through which, it is easy to tell whether the company is headed to the wrong or the right
direction towards goals achievement. In case of the above short-term goals, the company must
make sure, by mid-year, the goals are half way achieved and there is the required resources to
fund the goals. Analysis are also very vital such as the increased customers and the rate of capital
formation. If all these are positive, then the struggle towards goals achievement is in the right
direction.
Measuring long-term goals is not as complicated as short-term goals. Research shows
that ninety percent of firms that are able to attain short-term goals also attains long-term goals.
This simply means that the company just need to ensure the achievement of all short-term goals
to have assurance of positive progress towards achievement of long-term goals.
Environmental Analysis
Environmental analysis is one of the most important section of a marketing plan. It shows the
strategic position of the firm in the society by carefully studying the surroundings. It helps the
firm to plan on how to cope up with the challenges in the society and carrying on with
production even if the conditions are not encouraging. The following is the environmental
analysis of Sorez Company
a) Competition
Electronic device production is one of the most evolving business in the market.
Improvement of technology is day by day affecting the production and firms need to cope up
with this. Failure to do that, the company experiences a noticeable decrease in consumer
demand. Competition from other electronic companies is obvious and there company is well
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equipped to ensure consumers’ loyalty is maintained through production of quality and
affordable products. The company has planned to beat the rival firms in competition in and out
of United States.
b) Economic Forces
In United States and specifically California, the economic situation is not that bad. Due to
current worldwide difficulties and pandemics, the economic situation is worsening day in day
out, and that why the company will be forced to produce what the consumer will be able to
afford at ease. The company is then advised to consider the social classes while producing
these devices, both luxurious and basic considerations.
c) Political Forces
California is one of the most peaceful states in USA, due to this reason, political instability is
not a common feature here. Any business can thrive for years without much distractions from the
political arena. The firm is only required to follow several business laws, as pertained by the
ruling constitution of the land.
d) Technological Forces
In this state, the technology applied is of a higher class altogether. The firms compete mostly
in the technological world. Due to this reason, the Sorez Company is advised to apply the highest
levels of technology as possible for it to be steps above the competitors in the market.
e) Sociocultural Forces
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The place is well known to have an influential market that shows a lot of cooperation to
electronic companies. Their culture does not inhibit them from accessing electronic devices
hence it is a good place to start such a company.
SWOT Analysis of Sorez Company
In my own opinion, SWOT analysis forms the backbone of a marketing plan. It enables the
company to detect its weaknesses, strength, threats and opportunities for effective planning
(Phadermrod, Crowder & Wills, 2019). The strengths analyzed makes the firm realize where has
the highest level of perfection and hence producing more on it for its prosperity (Brohi et al.,
2016). On the part of weaknesses analyzed, the company is made to know of its weak point
hence able to work hard to improve on the same. The threat part is also important as upon
knowledge of the company’s threats, plans to curb them are put in place to enhance protection.
a) Strengths of Sorez Company
The following facts about the Sorez Company makes consumers best prefer it to other
producing companies.
1. The company has invested huge amount of capital in research and development which
has made the company become one of the best quality producing electronic companies.
2. There are facts to prove that products from the company can easily be accessible in the
market and their repairing material are also in plenty.
3. The production of high quality and durable products makes the company to be regarded
by many. The company understands that the secret behind customers’ loyalty is quality
and durability and that’s why the company invests in seeing to it that this is achieved.
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4. At Sorez, one is treated with a lot of care and also services such as issuing of warrant on
their products which makes it to be ranked among the best. The company also has
promotions through which their royal customers are able to benefit.
b) Weaknesses
These are setbacks that keep on holding the company behind despite planned progress, these
are enemies to development. The following are weaknesses of Sorez Company
1. Advertisement of the firm is not done in the right way which affect the company
negatively. Electronic gadgets such as phones needs to be properly advertised for people
to know the kind of property supplied in the market. Increase in advertisement and such
promotions lead to increased sales, the vice versa is also true.
2. Poor financial planning. In some cases, the company have experienced financial
constraints that have seen some of the company’s development projects inhibited.
3. Most of the products of the Sorez Company are only compatible with products from some
other few companies. Electronic devices ought to be compatible with others so that the
market of these devices is enlarged.
c) Opportunities
These are favors that exist naturally that upon proper usage, they can be of great advantage.
Some of these factor includes the following
1. Low rate of inflation. Currently, there is low inflation rate in the state, this provide Sorez
Company with a very ample opportunity to invest and develop gradually.
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2. Government policy. The states leadership allows the spread of a firm anywhere and
support start of infinite number of branches of a firm. Sorez can use that opportunity to
initiate several branches of the company hence promoting development.
3. The shipping price has of late gone down which means that exportation fee has reduced.
This is likely to cause decrease in prices of the gadgets due to reduced cost of production.
d) Threats
These are what puts the company at a risk which might mitigate its existence. The following
are some of the threats in the associated with Sorez Company.
1. Rising wage rate in the economy which the company might not be able to pay in the
future.
2. There is general decrease in the supply of skilled workforce I the economy which puts the
development of the firm at a risk.
3. It is in a way seems that other economies are isolation the American economy which will
affect the company’s international market
4. Rising competition among electronics companies is also a threat to the existence of Sorez
Company.
This marketing plan is a very vital document for the daily functioning of Sorez Company, it
will act as a point of reference whenever decision is to be made. The company is encouraged to
carry on majoring on its strengths and also try its best to work on its weaknesses for the welfare
of its existence and achievement of the set goals. Above everything, consumer demand should be
maintained and if possible increased through efforts that are ought to be carried out by the firm
itself.
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References
Brohi, H., Prithiani, J., Abbas, Z., Bhutto, A., & Chawla, S. (2016). Strategic Marketing Plan of
Nike.
Eccles, R. G., & Krzus, M. P. (2010). Integrated reporting for a sustainable strategy: One Report
has the potential to significantly change how companies operate and investors think,
shifting the focus from that of meeting short-term financial goals to developing a longterm business strategy that not only makes a commitment to corporate social
responsibility, but also to a sustainable society. Financial executive, 26(2), 28-33.
Fursov, V. A. (2017). Marketing planning in industrial enterprises in the context of import
substitution strategy.
Phadermrod, B., Crowder, R. M., & Wills, G. B. (2019). Importance-performance analysis based
SWOT analysis. International Journal of Information Management, 44, 194-203.
Taiwo, A. A., Lawal, F. A., & Agwu, E. (2016). Vision and Mission in Organization: Myth or
Heuristic Device? The International Journal of Business & Management, 4(3).
Wood, M. B., & Jobber, L. (2016). The marketing plan handbook. Pearson.
Running Head: Marketing Plan- Part 2
1
Marketing Plan- Part 2
Stephanie Cooper
05/16/2020
Marketing Plan- Part 2
2
Introduction
In most cases, being able to market the products sold in a particular company effectively
is essential in determining the success of the firm. Failure to establish an effective marketing
strategy makes it challenging to sell the product to potential customers. Through effective
marketing, it becomes easier for the company to create awareness of the product to potential
customers in the market. In marketing, branding is very instrumental since it establishes a basis
through which the company can sell its products to potential customers (Docters, 1999). In the
electronics world, many customers identify with the products made by well-known brands.
Therefore, through branding, many companies can establish a strong reputation in the market.
The brand selected should be aligned to the customers’ needs, and expectations and the company
should identify the potential customers in the market. Therefore, for the study, we will continue
with the development of the marketing plan for Sorez Company, which deals with different types
of electronics. The study will look to evaluate the feedback received from the initial plan and
assess how it can be applied in improving the marketing plan. Through the study, there will be
the development of a branding strategy that will comprise of essential elements, such as the logo,
brand name, slogan, and brand extensions.
Through the study, there will be an extensive
analysis of the primary and secondary markets where the company will look to sell their
Marketing Plan- Part 2
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products. Key elements of the markets such as gender, ethnicity, and age of the population will
be incorporated into the analysis. The research will then develop a positioning statement that
will serve as a guide for the company in determining its position relative to that of the
competitors. Finally, the study will examine the behavior of potential customers. Through the
analysis, there will be a justification of the suitability of the selected branding approach
suggested by the firm
Feedback and Improvements
Based on the feedback received from the first part, a few issues have been identified
based on the initial marketing plan. However, a better part of the plan met the requirements set.
In ensuring improvements are made to increase the viability and efficiency of the marketing
plan, the company will look to make several adjustments to make the plan more effective. Sorez
Company will look to increase the investments allocated for marketing purposes. Currently, the
company has invested heavily in research and production of high quality goods. However, there
exists a gap in marketing; thus, there will be a need to adopt more aggressive marketing
techniques to ensure the company sells the required amounts of goods to potential customers.
The company will also look to invest in financial planning tools in an attempt to ensure that the
financial resources are well managed and utilized for the benefit of the firm.
Brand Strategy
In most cases, the use of a branding strategy involves the analysis of the long term plans
that will be used for the development of the specific brand. The brand strategy’s main aim is to
ensure the business becomes successful by meeting its goals and objectives (Docters, 1999). The
design used in the branding strategy is instrumental since it affects all aspects of the business.
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The brand strategy developed should be designed to meet the unique needs of the customers. The
brand used should be able to ensure the business remains competitive in the market. Firstly, there
will be a need to define the goals of the business (DeVries, 2020). For Sorez Company, the main
goal is to become the leading electronics company by ensuring the needs of the customers are
met promptly. The company will ensure that the designs used in the products are aligned to the
specific needs of the potential customers in the market. The brand strategy will be built over an
extended period with realistic goals that can be achieved easily by the business (Docters, 1999).
The approach developed will also remain flexible to ensure it can meet the varying needs and
expectations of the investors in the market. In developing the brand, the company will create an
allowance for adjustments that can be used in tapping into opportunities that may arise in the
short term.
In this case, the brand name is So…
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